Financial Results : Naseej International narrows losses by 44.5% to SAR 19.5 mln in Q1 2020

Naseej International narrows losses by 44.5% to SAR 19.5 mln in Q1 2020

21/06/2020 Argaam Exclusive

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Naseej International Trading Co. trimmed net losses after Zakat and tax by 44.5% year-on-year (YoY) to SAR 19.5 million for the first quarter of 2020, driven by selling inventory at good prices and receivables collection.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 64.97 43.03 (33.8 %)
Gross Income 1.13 1.60 42.0 %
Operating Income (14.94) (14.38) 3.8 %
Net Income (35.18) (19.54) 44.5 %
Average Shares 5.93 8.91 50.3 %
EPS (Riyals) (5.94) (2.19) 63.0 %

On a sequential basis, net losses after Zakat and tax shrank by 43.45%.

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